KDM suffers 1Q14 loss on lower operations



3 июня 2014 года
Конкорд Капитал

KDM Shipping Public Ltd (KDM)


Maritime cargo shipping company KDM Shipping (KDM PW) suffered a 58% yoy plunge in revenue in 1Q14, the company reported on May 30. Its EBITDA was a USD 5.2 mln loss during the period, compared to a USD 2.5 mln EBITDA in 1Q13; its net loss amounted to USD 5.8 mln vs. net income of USD 1.96 mln in 1Q13. Total debt stood flat at USD 4.0 mln. KDM attributed its weak performance to the conflict in southeast Ukraine, which led to decreased freight rates and fewer voyages by KDM’s fleet, while cost of sales remained relatively stable yoy. KDM Shipping managed to generate positive net operating cash flow due to a working capital release via a decrease in receivables.

Источник: Конкорд Капитал



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